Digi International (NASDAQ:DGII) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Digi International Inc. (NASDAQ:DGII - Get Free Report)'s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $28.53 and traded as high as $30.39. Digi International shares last traded at $29.63, with a volume of 241,296 shares changing hands.

Analyst Ratings Changes

Several research firms have commented on DGII. Piper Sandler lifted their price objective on shares of Digi International from $26.00 to $32.00 and gave the stock a "neutral" rating in a research note on Thursday, November 14th. Craig Hallum reaffirmed a "hold" rating and set a $32.00 price target (up from $28.00) on shares of Digi International in a research note on Thursday, November 14th. Finally, StockNews.com raised shares of Digi International from a "buy" rating to a "strong-buy" rating in a research report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $36.75.

Digi International Trading Down 1.5 %

The company's 50 day simple moving average is $31.66 and its two-hundred day simple moving average is $28.53. The company has a quick ratio of 1.13, a current ratio of 1.73 and a debt-to-equity ratio of 0.21. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 47.84, a P/E/G ratio of 1.21 and a beta of 1.07.

Digi International (NASDAQ:DGII - Get Free Report) last released its earnings results on Wednesday, November 13th. The technology company reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.10. Digi International had a net margin of 5.31% and a return on equity of 11.24%. The company had revenue of $105.05 million during the quarter, compared to analysts' expectations of $104.16 million. During the same period last year, the business earned $0.44 EPS. Digi International's revenue for the quarter was down 6.3% on a year-over-year basis. As a group, research analysts anticipate that Digi International Inc. will post 1.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Terrence G. Schneider sold 2,808 shares of the firm's stock in a transaction on Friday, November 29th. The stock was sold at an average price of $33.06, for a total transaction of $92,832.48. Following the completion of the transaction, the vice president now directly owns 39,002 shares in the company, valued at $1,289,406.12. This trade represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Satbir Khanuja sold 7,000 shares of Digi International stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $31.76, for a total value of $222,320.00. Following the completion of the transaction, the director now directly owns 83,255 shares of the company's stock, valued at approximately $2,644,178.80. This represents a 7.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,329 shares of company stock worth $332,361. Insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On Digi International

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneva Capital Management LLC increased its position in shares of Digi International by 5.0% in the 3rd quarter. Geneva Capital Management LLC now owns 1,654,911 shares of the technology company's stock valued at $45,560,000 after purchasing an additional 79,313 shares during the last quarter. Cornercap Investment Counsel Inc. purchased a new position in Digi International in the second quarter valued at $498,000. Geode Capital Management LLC increased its holdings in Digi International by 1.3% in the third quarter. Geode Capital Management LLC now owns 874,290 shares of the technology company's stock valued at $24,074,000 after buying an additional 11,239 shares during the last quarter. SG Americas Securities LLC raised its stake in Digi International by 108.0% in the third quarter. SG Americas Securities LLC now owns 16,928 shares of the technology company's stock valued at $466,000 after buying an additional 8,788 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in Digi International by 51.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,129 shares of the technology company's stock worth $664,000 after buying an additional 8,235 shares during the last quarter. Hedge funds and other institutional investors own 95.90% of the company's stock.

Digi International Company Profile

Digi International Inc provides business and mission-critical Internet of Things (IoT) products, services, and solutions in the United States, Europe, the Middle East, Africa, and internationally. The company operates in two segments, IoT Products & Services, and IoT Solutions. It offers cellular routers for mission-critical wireless connectivity; cellular modules to embed cellular communications abilities into the products to deploy and manage intelligent and secure cellular connected products; console servers to provide secure and remote access to network equipment in data centers and at edge locations; and radio frequency products, including embedded wireless modules, off-the-shelf gateways, modems, and adapters under the Digi XBee brand.